Nonprofit · EIN 88-2702674
SOMAIYA FOUNDATION
Tax-exempt · ITHACA, NY 14850
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-EZ | $27,400 | $40,082 | -$12,682 | $4,230 | $24,422 | -$20,192 |
| December 31, 2024 | 990-EZ | $25,000 | $28,761 | -$3,761 | $8,539 | $16,049 | -$7,510 |
| December 31, 2023 | 990-EZ | $15,000 | $19,054 | -$4,054 | $7,613 | $11,362 | -$3,749 |
| December 31, 2022 | 990-EZ | $16,000 | $15,695 | $305 | $4,569 | $4,264 | $305 |
Financial details: 990-EZ for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $27,400
Expenses
- Grants and similar amounts paid
- $27,400
- Compensation of officers, directors and key employees
- $0
- Professional fees and payments to contractors
- $8,263
- Other expenses
- $4,419
- Program services (functional)
- $27,400
Balance sheet and other
- Total assets, start of year
- $8,539
- Total assets, end of year
- $4,230
- Total liabilities, end of year
- $24,422
- Net assets, end of year
- -$20,192
- Cash, savings and investments
- $1,930
- Gross receipts
- $27,400
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DR LARRY P WALKER | DIRECTOR | 0 | $0 |
| SHAHEEN MASHRAQUI | PRESIDENT | 1 | $0 |
| BIMAL THAKKAR | TREASURER | 1 | $0 |
| GAYATRI SOMAIYA | SECRETARY | 1 | $0 |
990-EZ for the year ended December 31, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BIMAL THAKKAR | DIRECTOR | 1 | $0 |
| GAYATRI SOMAIYA | DIRECTOR | 1 | $0 |
| DR LARRY P WALKER | PRESIDENT | 1 | $0 |
990-EZ for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BIMAL THAKKAR | DIRECTOR | 1 | $0 |
| GAYATRI SOMAIYA | DIRECTOR | 1 | $0 |
| DR LARRY P WALKER | PRESIDENT | 1 | $0 |
990-EZ for the year ended December 31, 2022: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BIMAL THAKKAR | DIRECTOR | 1 | $0 |
| GAYATRI SOMAIYA | DIRECTOR | 1 | $0 |
| DR LARRY P WALKER | PRESIDENT | 1 | $0 |
Address and contacts
- Address (IRS master file)
- CO SCIARABBA WALKER 410 E UPLAND RD, ITHACA, NY 14850-0000
- Signed the 990-EZ
- SHAHEEN MASHRAQUI, PRESIDENT
- Phone
- (607) 272-5550
- Return prepared by
- SCIARABBA WALKER & CO LLP
Mission
THE PURPOSES OF THE NONPROFIT SHALL BE TO (A) PROVIDE NETWORKING OPPORTUNITIES FOR NORTH-AMERICA-BASED STUDENTS, ALUMNI, STAFF AND FACULTY OF THE BELOW DESCRIBED "SISTER ORGANIZATIONS; (B) ESTABLISH, ENCOURAGE AND GROW RELATIONSHIPS BETWEEN NORTH AMERICAN-BASED ACADEMIC INSTITUTIONS AND CHARITIES FOR THE SISTER ORGANIZATIONS FOR THE MUTUAL BENEFIT OF STUDENTS, ALUMNI, FACULTY AND STAFF OF ALL; (C) DEVELOP AND MAINTAIN A CHARITABLE GIVING REGIME IN CONNECTION WITH NORTH AMERICAN-BASED STUDENTS, ALUMNI, STAFF AND FACULTY OF THE SISTER ORGANIZATIONS; AND (D) PROVIDE GRANT FUNDING IN SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES AND PROGRAMS OF THE SISTER ORGANIZATIONS. THE "SISTER ORGANIZATIONS" ARE SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST AND OTHER EDUCATIONAL AND CHARITABLE ORGANIZATIONS WORKING IN THE AREAS OF DEVELOPMENT, EDUCATION AND HEALTHCARE IN FURTHERANCE OF THE VISION OF THE LATE SHRI K. J. SOMAIYA.
Program accomplishments
- PROVIDE OPPORTUNITIES FOR NORTH-AMERICA-BASED STUDENTS, ALUMNI, STAFF AND FACULTY FOR SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUST.
- PROVIDE GRANT FUNDING IN SUPPORT OF CHARITABLE AND EDUCATIONAL ACTIVITIES AND PROGRAMS OF SOMAIYA VIDYAVIHAR, SOMAIYA VIDYAVIHAR UNIVERSITY, KJ SOMAIYA MEDICAL TRUST AND GIRIVANVASI EDUCATIONAL TRUSTExpenses $27,400 · grants $27,400
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-EZ on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 88-2702674
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $4,230
- Income (IRS master file)
- $27,400
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2025 | $27,400 | $40,082 | $4,230 | IRS |
| 990-EZ | December 2024 | $25,000 | $28,761 | $8,539 | IRS |
| 990-EZ | December 2023 | $15,000 | $19,054 | $7,613 | XML |
| 990-EZ | December 2022 | $16,000 | $15,695 | $4,569 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-2702674).
Questions about SOMAIYA FOUNDATION
- What is the EIN of SOMAIYA FOUNDATION?
- The employer identification number (EIN) of SOMAIYA FOUNDATION is 88-2702674.
- Is SOMAIYA FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to SOMAIYA FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOMAIYA FOUNDATION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of SOMAIYA FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOMAIYA FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2025.
- Who are the officers and directors of SOMAIYA FOUNDATION?
- The 990-EZ for the year ended December 31, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does SOMAIYA FOUNDATION have?
- On its 990-EZ for the year ended December 31, 2025 it reported revenue of $27,400, expenses of $40,082 and total assets of $4,230 at year end.
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